Business to business marketing is the direct involvement of two businesses. B2B is way more informative and straightforward compared to business-to-consumer marketing.
Change In Digital Marketing Strategies From 2020
The worldwide chaos in 2020 resulted in a tremendous marketing trend shift since most businesses started going online. According to a Harvard review, the void of uncertainty caused 50% of the buyers to hold off on purchases. With the rapid market shift, variations in digital marketing strategies occurred. Digital Marketing is now being focused on marketing ROI, retention marketing, and virtual events.
Emphasis On Marketing ROI (Revenue On Investments)
Over time, the emphasis on marketing revenue on investment has increased. With the limited marketing budgets, the investors are more accountable for their expenses. Hence, it becomes vital for businesses to emphasize their marketing ROI.
According to a Harvard business review, if you work on retaining your customer’s attention, as small as 5%, it can lead up to a 95% increase in your business’s profits. With the chaotic tornado of disconnection from your customers in 2020, it became vital to hold onto the customers, be it by using digital marketing or using retention marketing digitally.
According to the Edelman Trust Barometer 2020, 65% of consumers said they are looking for brands that reflect their values. 43% said they are willing to switch loyalties if companies are not aligning with their beliefs. We can see how various brands keep enhancing and making user-belief-friendly products with time along with improving their Digital Marketing strategies.
Virtual events, live streams and webinars spiked during 2020 because of the coronavirus pandemic. All of this collectively led to a change in digital marketing tactics.
Digital Marketing strategies in 2021
With the coronavirus pandemic hitting the world like a storm, marketing trends have changed drastically. It had a severe impact on the B2B Marketing strategies. In 2021, digital marketers started focusing more on approaches like content marketing, nostalgia marketing, voice marketing, and chatbots.
83% of marketers surveyed for a report by the Content Marketing Institute and said publishing content that provides value to their customers contributes significantly to making their content marketing efforts successful. Having diverse, well-researched content with SEO-friendly keywords acts like a charm for your business.
It is not wrong if you say that people constantly live in the past. Using Nostalgia marketing digitally has been in trend this year. Reintroducing cultural values or trends that are no longer there, is beneficial for your brand. Digital marketing of nostalgia can help you gain customers who are constantly living in the past. Wondering about the days they could step out without putting on a mask.
With everyone restricted to the vicinity of their homes; podcasts, video marketing, and webinars have been on-trend. Consumers are using voice to look for the products they need online. We see consumers asking Spotify for a song by humming it or asking Alexa for reordering that pizza. Voice marketing has taken over the world by storm.
For facilitating B2B marketing, new communication methods are in use. Globally, 67% of consumers reported using a chatbox support system in the past year. B2B marketers use chatbots for various purposes. It can be for filtering content, providing support, capturing contact information, and nurturing leads without much human involvement. You factor in chatbot and AI integration, it opens up opportunities for automated personalization at scale.
One of the major challenges in Digital Marketing today is staying updated with the latest trends and techniques. One has to be aware of all the latest trends to stay a step forward from his competitors. Pinaak Ventures is the Best Digital Marketing Services Company in Chandigarh. We can help you with all the latest marketing trends and marketing strategies in 2021. We have a remarkable team that can help you reach great heights. Contact us for more details.